Business
Chorus Announces Completion of Sale of its Regional Aircraft Leasing Segment and Organizational Updates
Chorus Announces Completion of Sale of its Regional Aircraft Leasing Segment and Organizational U...
About this update from Chorus Aviation Inc.
[{"type":"text","content":"\n\n\n\n Chorus Announces Completion of Sale of its Regional Aircraft Leasing Segment and Organizational Updates\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n HALIFAX, NS\n \n\n ,\n \n\n Dec. 6, 2024\n \n\n /CNW/ - Chorus Aviation Inc. (TSX: CHR) (\"\n \n Chorus\n \n \") today announced the completion of the previously announced sale of its Regional Aircraft Leasing (RAL) segment (the \"\n \n Transaction\n \n \").\n \n\n \"Chorus is pleased to announce the completion of the sale of its RAL segment, including Falko. As we close this transaction, we are moving forward with a stronger financial position for our company,\" said\n \n Colin Copp\n \n , President and Chief Executive Officer, Chorus. \"The significant deleveraging and improved liquidity resulting from this sale will enable us to implement a sustainable capital return program for our shareholders and fund steady growth in our aviation services businesses.\"\n \n\n \"We extend our sincere gratitude to all of the parties who made possible the successful completion of this transaction, including Chorus and Falko employees and our advisors,\" noted Mr. Copp. \"We also thank our board of directors and shareholders, whose guidance and strong endorsement of the transaction were instrumental in re-positioning Chorus for future success.\"\n \n\n Chorus also announced the planned retirement of\n \n Jolene Mahody\n \n , Executive Vice President and Chief Strategy Officer, effective\n \n January 2025\n \n after a 32-year career with Chorus and its predecessor companies. Randolph deGooyer has been appointed to the role of Chief Operating Officer of Chorus, effective\n \n January 1, 2025\n \n . Randolph is currently the President of Chorus' largest subsidiary, Jazz Aviation, and brings significant operational and industry experience to his new role.\n \n Doug Clarke\n \n , currently Jazz's Vice President of Finance and Business Services, will replace Randolph as President of Jazz.\n \n\n \"I thank Jolene for her contributions over her 32 years with Chorus, including playing a ce...